Changes to our Expenses policy
27 June 2008
Changes to our expenses policy
Up until now, as a client of PayeRise you have always been able to claim a tax deduction on allowable expenses which have been reimbursed by your agency or employer.
Now after careful review of the latest tax legislation we judge that our clients are able to claim a tax deduction for allowable expenses incurred on behalf of the company which are not reimbursed by your agency or employer. (This applies to expenses incurred during the current tax year which commenced on 6th April 2008.)
Please note – to protect our clients, our position on expenses is still different to most of the market.
- The definition of an “allowable expense” has not changed
- Travel to and from your main place of work is still not allowable
- All claims will still require supporting receipts
Our expense policy is specifically designed to ensure that you can claim money that is rightfully yours while protecting you from the risk of investigation, retrospective taxes and fines from HMRC.
This has never been more important than now, as the HMRC begins to roll out plans to scrutinise the Umbrella Company market and clamp down on questionable expense practices.
It’s a move that we welcome as we believe all Umbrella Companies should have the same stringent, ethical approach to expense policies as PayeRise.
Please make sure you read our Guide to Expenses and contact your Payroll consultant if you have any further questions about allowable expenses.
Document: Guide to Expenses (3473 kb)
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